22.01.2013
Cargotec to take €26 million hit
Cargotec, owner of Hiab loader cranes, Kalmar reach stackers and MacGregor marine cranes will book a €26 million non-reoccuring restructuring charge in its fourth quarter accounts.
The charge - with a cash impact of €19 million - covers the recently announced move away from centralised services towards a more entrepreneurial decentralised structure, with each of the three businesses responsible for their own operations and decisions.
The negotiations and lay-offs have been largely concluded and the company estimates that the measures taken will result in a saving of around €30 million for the year 2013.
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